Bank of Thailand official: Politics and gold drive stronger Thai baht.

Pawinee Chitmongkolsamur, senior executive in financial market operations at the Bank of Thailand, stated that although the appreciation of the Thai baht is mainly due to the weakening of the US dollar, the Thai baht has performed better than other currencies due to improvements in the Thai political situation, the rise in gold prices, and an increase in the current account surplus. She said that there is a correlation between the Thai baht and gold prices, and the Bank of Thailand has noticed that market participants have recently started trading the Thai baht more based on gold prices.